Browsing: NZD/USD Forecast

NZD/USD technical analysis ► review of the major events that will move the New Zealand dollar (kiwi) during the week.

The New Zealand dollar was falling quite a bit on growing speculation for a rate cut by the RBNZ. Three events are lined up this week. Here is an analysis of fundamentals and an updated technical analysis for NZD/USD. The Reserve Bank of New Zealand published a special assessment of the economy and it seems they are ready to cut. This joins a weaker than expected CPI release, showing prices advanced only 0.4% in Q1. The steady milk prices did not help, nor did the OK US data. All in all, it was a bad week for kiwi/dollar. NZD/USD daily graph with support and resistance…

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The New Zealand dollar continued enjoying an improving market mood but eventually reversed course and slid back down. GDP and milk prices stand out. Here is an analysis of fundamentals and an updated technical analysis for NZD/USD. The better political prospects for the UK helped markets recover and the kiwi took advantage of this. But later, with better US data and some profit taking, the pair dropped. NZD/USD daily graph with support and resistance lines on it. Click to enlarge: CPI: Sunday, 22:45. New Zealand publishes its inflation numbers only once per month, making the report more potent in terms of market reaction. In Q1 2016, prices advanced…

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The New Zealand dollar was unable to hold its ground as Brexit fears and milk priced weighed on it. Two events await the kiwi in the upcoming week. Here is an analysis of fundamentals and an updated technical analysis for NZD/USD. While business confidence rebounded back to 19 points, milk prices slipped by 0.4% and this hurt the kiwi. In the US, data was looking OK. The main theme in markets remains Brexit, and the second big fallout, as the event hits the economy, is casting a dark shadow on markets. The NZD is a risk currency and thus suffered. However, things changed…

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The New Zealand dollar was surprisingly resilient in the week after Brexit. Can it continue higher? The dairy report is the main event. Here is an analysis of fundamentals and an updated technical analysis for NZD/USD. New Zealand’s trade balance came out better than expected with 358 million. Also business confidence advanced nicely. This, together with the post-Brexit bounce helped the kiwi advance. In the US, GDP came out slightly better than expected but this did not rock the boat too much. NZD/USD daily graph with support and resistance lines on it. Click to enlarge: NZIER Business Confidence: Monday, 22:00. This quarterly survey of 2500 businesses slipped to…

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The New Zealand dollar enjoyed good data coming out of the country but but reversed course on the risk-off sentiment related to Britain’s EU Referendum. The upcoming week features 3 local events and the big Brexit decision. Here is an analysis of fundamentals and an updated technical analysis for NZD/USD. The UK decided to leave the EU and this has implications also on New Zealand. It triggered a global “risk off” sentiment that hurt the kiwi alongside other currencies. In New Zealand, credit card spending was positive with 5.9% and visitor arrivals stabilized, but the markets are gripped by bigger events. NZD/USD daily graph with support and…

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The New Zealand dollar enjoyed good data coming out of the country but was limited by some risk-off sentiment related to Britain’s EU Referendum. The upcoming week features 3 local events and the big Brexit decision. Here is an analysis of fundamentals and an updated technical analysis for NZD/USD. New Zealand data was positive, with GDP rising 0.7% in Q1 2016, better than expected. Also the current account came out better than expected and milk prices did not fall. In the US, the Fed was quite dovish. In normal times, this should have pushed NZD/USD higher, but the Brexit trade is taking over everything and it…

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The New Zealand dollar had a positive week, enjoying higher milk prices and a collapse of the greenback. It now faces a key test with the rate decision from the RBNZ. Here is an analysis of fundamentals and an updated technical analysis for NZD/USD. The Global Dairy Trade advanced for the second consecutive auction. The 3.4% gain certainly helped the kiwi. In addition, New Zealand’s Terms of Trade also surprised to the upside with a rise of 4.4% in Q1 2016, providing further support. In the US, the data came out more or less as expected until it totally bombed: the NFP came out a very lousy…

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The New Zealand dollar traded lower in a week that saw a stronger USD. The dairy auction is the main event as we turn to a new month. Here is an analysis of fundamentals and an updated technical analysis for NZD/USD. The better than expected trade balance surplus and the hopes for a higher budget surplus did little to help the kiwi against the might of the greenback. Even though data was not convincing enough, Yellen’s upbeat message certainly kept the USD bid. NZD/USD daily graph with support and resistance lines on it. Click to enlarge: Building Consents: Monday, 22:45. This indicator provides a good view of the…

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The New Zealand dollar dropped under the weight of the greenback and settled in a lower range. Trade balance and the annual budget release are this week’s events. Here is an analysis of fundamentals and an updated technical analysis for NZD/USD. There were quite a few releases in New Zealand in the past week, but they basically balanced each other. Inflation expectations remained unchanged at 1.6%, milk prices advanced by 2.6% but PPI Input fell by 1%. On the other side of the Pacific, the Fed’s meeting minutes were hawkish boosting the US dollar on higher expectations for a rate hike in June. NZD/USD daily…

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